OPALCO Board passes 2025 budget and rates

||| FROM KRISTA BOUCHEY for ORCAS POWER & LIGHT COOPERATIVE |||

The 2025 OPALCO annual budget was approved at the November 20 board meeting including a 6% rate increase for all members. This works out to an increase of approximately $11/month for the average San Juan County residence. The budget forecasts 6% rate increases for each of the next five years to keep up with inflation, the rising costs of power and labor, and to manage the Co-op's equity position. The Co-op uses equity to borrow federal funds to build essential capital projects, like the multiple submarine cable replacements that are scheduled over the next 10-20 years.

On December 12, the Board approved the 6% tariff increase. The Board also committed to an extensive
analysis of the OPALCO rate structure during 2025. Members will likely see some changes in the way
their bills are allocated in 2026 and beyond. OPALCO wants members to be engaged throughout 2025 as we analyze the electric rates and how each type of energy user pays their share of the cost to deliver
power to the San Juan Islands.

All expense categories are rising. This is driving higher power bills for OPALCO members for 2025 and
into the foreseeable future. OPALCO will continue to encourage members to utilize our on-bill financing program, Switch It Up, to encourage beneficial electrification and conserve energy which will help members save money on their rising bills and save energy for the planet. Members in good standing can get projects such as weatherization, solar & battery projects or upgrades to heating systems installed with no money down and 3% interest over ten years. Members can finance up to $100k on their bill.

There are also residential and commercial rebates available to put money back in your pocket!

OPALCO is committed to programs that help its most vulnerable members keep up with the rising cost
of power. The 2025 Budget increases the Energy Assist bill credit amounts to offset the rate increase.
Additionally, OPALCO will continue to support and promote Project Pal for households who struggle to pay their power bills, which is a one-time grant each year during heating season. Apply for or learn more about energy assistance online at www.opalco.com.

For the full 2025 budget report, visit the Document Library on OPALCO’s website at www.opalco.com.
Stay tuned for ways to get involved in 2025 on the future of electricity rates.

Orcas Power & Light Cooperative (OPALCO) is our member-owned cooperative electric utility, serving more than 11,000 members on 20 islands in San Juan County. OPALCO provides electricity that is 95% greenhouse-gas free and is generated predominantly by hydroelectric plants. OPALCO was founded in 1937.